Center for Algorithms and Theory of Computation

CS 269S, Winter 2018: Theory Seminar
Bren Hall, Room 1423, 1pm

February 23, 2018:

Time-Lock Puzzles in Relation to Bitcoin

Grady Yu

Time-lock puzzles enable a published message to be decoded only after a set time period has elapsed. The original construction by Rivest, Shamir, and Wagner (1996) relies upon "inherently sequential computation" and standard RSA hardness. An alternative approach shown by Jager (2015) treats the Bitcoin network as a "computational reference clock" to avoid the expensive decoding step.